The indictment filed in the Brooklyn Federal Court against Gautam Adani and other Adani Group executives prominently mentions Chhattisgarh State Power Distribution Limited, shedding light on contractual dealings across various Indian states. The case, which alleges a massive $250 million bribery scheme, has raised serious concerns about the group's operations and ethics.

Bribery Allegations and Expected Profits

The allegations revolve around bribes paid to secure lucrative solar energy supply contracts with Indian government entities. The indictment claims:

• Bribery Amount: $250 million paid between 2020 and 2024.
• Projected Profit: The contracts were expected to generate post-tax profits of over $2 billion over 20 years.

Alongside Gautam Adani, several other executives, including Sagar Adani, Vineet Jain, Ranjit Gupta, Rupesh Agarwal, Deepak Malhotra, Saurabh Agarwal, and Cyril Cabanes, have been named as co-conspirators.

Details of the Alleged Scheme

The indictment alleges systematic corruption, including:

1. Direct Involvement: Gautam Adani personally met with Indian government officials to advance the bribery scheme.
2. Meticulous Documentation:
   • Sagar Adani reportedly used his phone to track details of bribe payments.
   • Rupesh Agarwal prepared detailed analyses in PowerPoint and Excel, summarizing bribe payments and strategies to conceal them.
3. False Representations: The accused misrepresented the company's anti-bribery practices to U.S. investors and financial institutions to secure funding.

Efforts to Obstruct Justice

The indictment also accuses several executives of attempting to obstruct justice:

• Deletion of electronic evidence related to the bribery scheme.
• False denials of involvement during meetings with the FBI, DOJ, and SEC in Brooklyn.
• Collaboration to mislead investigations conducted by U.S. agencies.

For this, Cyril Cabanes, Saurabh Agarwal, Deepak Malhotra, and Rupesh Agarwal face charges of conspiracy to obstruct justice.

Global Repercussions

The case underscores the far-reaching implications of corporate corruption, with international investors and regulatory bodies now scrutinizing the Adani Group's practices. The inclusion of Chhattisgarh State Power Distribution Limited and other Indian entities highlights the broad network of contracts under investigation.

As the U.S. court proceedings unfold, the case is poised to significantly impact the Adani Group's global operations and reputation.